Arkham Intelligence Tags 40 VanEck Bitcoin ETN Addresses Holding 6,864.99 BTC

Arkham Intelligence labeled 40 on-chain addresses tied to VanEck's European Bitcoin ETN, which hold 6,864.99 BTC worth about $507.2 million, the firm announced on November 9, 2026. TradingView carried the announcement. No coins were bought or sold to produce the figure.

Inside Arkham's VanEck Labeling Batch

The labels cover VanEck's VBTC Bitcoin ETN, a physically backed exchange-traded note that VanEck launched in Europe on November 19, 2020. The product holds actual Bitcoin in cold storage and tracks the MarketVector Bitcoin VWAP Close Index on European exchanges. Arkham's research puts VBTC's holdings at between 6,864.99 and 6,868 BTC, a spread it attributes to slightly different snapshots of the same wallets.

The VBTC addresses were part of a larger batch covering addresses linked to approximately $3 billion in institutional fund holdings. That batch also named CoinShares BITC at $1.52 billion, Invesco BTIC at $266.6 million and the Grayscale Solana Trust at $125.9 million. The Grayscale entry is the only product in the list built around Solana rather than Bitcoin, while the VanEck addresses cover Bitcoin and nothing else.

The labeling traces back to Arkham's top-100 holders report, dated November 3-4, 2026, which fed a broader initiative to map wallets belonging to regulated digital asset products. Arkham said it plans to extend the coverage to more traditional finance participants as they move deeper into digital asset markets. The labels do not change how VBTC works: its structure, custody arrangement and underlying holdings stay the same.

Arkham's Label Database and Funding

Arkham Intelligence was founded in 2020 and is headquartered in New York, according to akta.pro company records. The same records list 3.5 billion address labels and 800,000 verified entities in its database, a Series A round of $12 million in April 2023, and an estimated $10 million to $25 million in revenue.

Earlier Arkham Tracking Work

Arkham launched its Enterprise platform on October 20, 2026, offering real-time data refreshes, Tracer 2.0, case management and risk scoring, Crypto Briefing reported. On November 5, 2026, it added a frozen asset view to its portfolio module, initially covering USDC, USDT and USDT0, according to Crypto Briefing. On November 11, 2026, Thedefiant reported that Arkham traced 847.26 BTC into mixing transactions tied to the Bitget hack and reported another 959.29 BTC in labelled wallets.

What Arkham Has Said Comes Next

Arkham has said it plans to extend its wallet coverage to more traditional finance participants as they move deeper into digital asset markets. The VBTC labels sit alongside Arkham's existing tracking of VanEck's US spot Bitcoin ETF, which trades under the HODL ticker.